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SoftBank to Pay $32 Billion for U.K. Chipmaker ARM

U.K. chipmaker ARM Holdings (ARMH) has become the biggest M&A beneficiary of a weaker pound after luring a £24.3 billion ($32.1 billion) bid from Japan's SoftBank (SFBTF) .

The Japanese majority owner of Sprint (S) said on Monday it agreed to offer 1,700 pence per share for the Cambridge, England-based target, or 43% more than Friday's 1,189 pence per share closing price.

The deal is one of Europe's biggest ever in the TMT sector, as well as the...